What does cartel mean?

cartel meaning in General Dictionary

To defy or challenge

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  • a consortium of separate companies created to restrict competitors by managing the manufacturing and distribution of an item or solution
  • An agreement between belligerents for the change of prisoners.
  • A letter of defiance or challenge; a challenge to single combat.
  • To defy or challenge.

cartel meaning in Legal Dictionary

n. 1) an arrangement among supposedly separate corporations or national monopolies in the same industrial or site development area arranged to regulate circulation, set costs, reduce competition, and sometimes share technical expertise. Usually the individuals tend to be multinational corporations which run across numerous borders and have now little or no respect to virtually any residence nation, and great respect to profits. Probably the most prominent cartel is OPEC (business of Petroleum Exporting Countries), which signifies all of the oil-producing countries in the centre East, North Africa and Venezuela. Numerous cartels function behind a veil of secrecy, especially since under US antitrust laws (the Sherman and Clayton Acts) they've been illegal. 2) a criminal syndicate like the worldwide drug cartel based in Colombia.

cartel meaning in Economics Dictionary

an understanding among two or more ORGANIZATIONS in identical industry to co-operate in correcting PRICES and/or carving within the market and limiting the amount of PRODUCTION they create. Its particularly typical if you find an OLIGOPOLY. The purpose of such collusion is to boost PROFIT by lowering COMPETITORS. Identifying and splitting up cartels is an essential part associated with competition plan supervised by ANTITRUST watchdogs generally in most nations, although showing the existence of a cartel is hardly ever simple, as corporations are usually not very careless on put agreements to collude on paper. The aspire to develop cartels is strong. As Adam SMITH put it, 'People of the same trade seldom satisfy collectively, even for merriment and diversion, nevertheless conversation leads to a conspiracy resistant to the community or perhaps in some contrivance to improve prices.'

cartel meaning in Law Dictionary

n agreement between two aggressive capabilities when it comes to delivery of prisoners or deserters. Also a written challenge to fight a duel.

cartel meaning in Etymology Dictionary

1550s, "a written challenge," from center French cartel (16c.), from Italian cartello "placard," diminutive of carta "card" (see card (n.1)). It stumbled on indicate "written agreement between challengers" (1690s) and then "a written contract between challengers" (1889). Feeling of "a commercial trust, a connection of industrialists" comes 1902, via German Kartell, which is from French. The older U.S. term for the is trust (n.). The most common German title for all of them had been Interessengemeinschaft, abbreviated IG.

cartel meaning in Business Dictionary

band of corporations or nations which make an effort to get a handle on price or availability of a commodity (such oil) through shared discipline on production. Although such collusion among sovereign nations (including in OPEC) is grudgingly acknowledged, it's illegal among corporations. See also oligopoly.

Sentence Examples with the word cartel

Under his influence the Conservatives and National Liberals formed a coalition or Cartel by which each agreed to support the candidates of the other.

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